Question
You decide to take a 7-day vacation and the trip costs you $3,000. While you are on vacation, you do not report to work where
You decide to take a 7-day vacation and the trip costs you $3,000. While you are on vacation, you do not report to work where you could have earned $1,200. You spent $600 on shopping during your trip. The opportunity cost of the vacation is
Select one:
a. $4,800
b. $1,800
c. $4,200
d. $3,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
